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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: stevenallen who wrote (43154)	6/27/2003 9:45:20 PM
From: Jorj X Mckie	Respond to of 57110

Damn, you took your Dad seriously. Actually, it doesn't sound too far out of left field. I think that Thursday is likely going to be the day to short. bullish percentages didn't really get any weaker today.

To: stevenallen who wrote (43154)	6/28/2003 12:22:08 AM
From: TheLineMan	Read Replies (3) \| Respond to of 57110

I think were done on Monday, if not already. The SPX, DJIA look finished and the NDX, COMPQ don't look healthy either. We either take a healthy dump or we are going sideways for a couple of weeks. If you get a chance you might want to take a look at the COMPQ, SPX and DJIA charts for the last 2 years. If you use the weekly with candlesticks you'll see the engulfing pattern bullish or bearish has been a great indicator. Another thing that seems to work is the 10/20 EMA crossovers on the weekly. I'd build the charts but I'm too cheap to pay for it. The only thing I hate about my model is that the candlestick pattern misses the big down in the NDX starting in March '02, but when the sequence occurs the index usually follows the pattern. Another negative, is that there have been one or two two reversals, and the weekly footprint of the NDX and COMPQ are both small, neither have the bearish candlestick, which would kind of indicate shorting the SPX and DJIA. But me (I'm an idiot) will probably go after the COMPQ hoping that they will follow. I'm an amateur with charts so if you see something I don't let it rip.